The ESMA (European Securities and Markets Authority) has released the 2024 European Single Electronic Format (ESEF) XBRL taxonomy files, along with an updated ESEF Conformance Suite. These updates are designed to support the preparation of annual financial reports in compliance with the ESEF Regulation.
The 2024 ESEF XBRL taxonomy aligns with the IFRS Foundation’s Taxonomy as of March 31, 2023. This taxonomy serves as a vital tool for ensuring that issuers within the European Union adhere to standardized reporting requirements, thereby enhancing transparency and comparability of financial information across markets.
Additionally, the ESEF Conformance Suite has been updated to reflect these changes. This set of tests enables software providers and developers to verify the accuracy and compliance of their solutions with the ESEF regulatory requirements. By leveraging this suite, stakeholders can ensure the creation of valid and high-quality ESEF-compliant reports.
These resources are crucial for issuers, software vendors, and regulators to maintain consistency and compliance with ESEF standards. For more detailed information, the updated taxonomy files and conformance suite are now available for download on ESMA’s official website.
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